Boston, MA 03/24/2014 (wallstreetpr) – Frontier Communications Corp (NASDAQ:FTR) which is a provider of communications solutions and Crius Energy LLC which is a provider of energy solutions, announced the expansion of their existing partnership.
Shares of Frontier rose to a new 52-week high on the news during Friday session. The shares closed at $5.41, up 0.74 percent, and touching the range of $5.36 – $5.47 during the session, having opened at $5.37. The shares have a one year low price of $3.71 and new high price of $5.47.
Frontier Communications Corp (NASDAQ:FTR) is involved in offering voice, data and specialized communication services in 27 states. The company teamed up with Crius Energy under FTR Energy Services to offer clean energy solutions to the residential customers in the regions served by Frontier. Crius Energy provides energy solutions in form of natural gas, solar and electricity to commercial and residential customers. It has an innovative marketing approach to expand its customer base.
Expanding to new locations
In the past, Frontier and its partner Crius Energy have been serving customers in Indiana, Illinois, New York and Ohio, where FTR Energy Services provides electricity and natural gas to residents in these areas served by Frontier communications. Now the companies want to expand into more markets and additional product – solar. The new markets include Washington, Arizona, California, Colorado and Oregon. Connecticut residents will also be added to the network once Frontier closes its deal to acquire AT&T Inc (NYSE:T) broadband assets in the area.
Immediate action
Of the new areas to be covered under the expanded partnership, residents of California will begin enjoying the clean energy solution from Frontier and Crius Energy in April. California is an attractive market for solar energy products.
Successful partnership
That Frontier Communications Corp (NASDAQ:FTR) and Crius Energy have decided to expand their energy partnership leaves no doubt that the business is turning out to be a success. And on that note, the companies are training their eyes on even more markets.
